Status reinforcing: Unintended rating bias on online shopping platforms

Online shopping platforms have gradually begun to use hierarchical loyalty programs to distinguish customers. Previous studies have focused mainly on the effect of such programs on loyalty and repurchase behavior, and little is known about how customer statuses in hierarchical loyalty programs affect their online product evaluations. Drawing on social status and social conformity theory, this study investigates the impact of customer status on the valence of online reviews. An instrumental variable is proposed to address the endogeneity issue. The results show that a customer's need for status leads to a negative rating bias when leaving online reviews. At the same time, people encounter social pressure from crowds. The need for social conformity can alleviate such rating bias. This study contributes to the understanding of the effect of social status on post-purchase behavior and provides practical implications for both managers and platforms.     

Practice makes perfect: Entrepreneurial-experience curves and venture performance

This study tackles the puzzle of why increasing entrepreneurial experience does not always lead to improved financial performance of new ventures. We propose an alternate framework demonstrating how experience translates into expertise by arguing that the positive experience–performance relationship only appears to expert entrepreneurs, while novice entrepreneurs may actually perform increasingly worse because of their inability to generalize their experiential knowledge accurately into new ventures. These negative performance implications can be alleviated if the level of contextual similarity between prior and current ventures is high. Using matched employee–employer data of an entire population of Swedish founder-managers between 1990 and 2007, we find a non-linear relationship between entrepreneurial experience and financial performance consistent with our framework. Moreover, the level of industry, geographic, and temporal similarities between prior and current ventures positively moderates this relationship. Our work provides both theoretical and practical implications for entrepreneurial experience—people can learn entrepreneurship and pursue it with greater success as long as they have multiple opportunities to gain experience, overcome barriers to learning, and build an entrepreneurial-experience curve.     

The Link Between Corporate Social and Financial Performance: Evidence from the Banking Industry

The purpose of this investigation is to extend earlier research on the relationship between corporate social and financial performance. The unique contribution of the study is the empirical analysis of a sample of companies from the banking industry and the use of Community Reinvestment Act ratings as a social performance measure. The empirical analysis solidly supports the hypothesis that the link between social and financial performance is positive.     

Is self-employment really a bad experience? : The effects of previous self-employment on subsequent wage-employment wages

We use propensity score matching methods to quantify the effects of past self-employment experience on subsequent earnings in dependent employment using data on the population of Danish men observed between 1990 and 1996. Our results generally confirm existing studies in that we find that a spell of self-employment is associated with lower hourly wages compared to workers who were consecutively wage-employed. We also show, however, that this effect disappears—and even becomes positive in some settings—for formerly self-employed who find dependent employment in the same sector as their self-employment sector. Hence, the on average negative effect of self-employment is rather caused by sector switching than by the self-employment experience per se. Moreover, formerly self-employed who either enjoyed a high income or hired at least one worker during their self-employment spell receive wages in subsequent dependent employment that are at least as high as for individuals who have been consecutively wage-employed.     

大学生网络流行语使用行为的调查与分析——以上海部分高校为例

本文采用配额样本随机抽样的方法调查了上海13所高校1300位大学生,对高校大学生网络使用行为、网络流行语熟悉程度和对网络流行语的态度的内容进行了调查,重点关注网络流行语在现实生活中的使用情况,并对网络流行语规律进行了分析,     

Upper echelons and portfolio strategies of venture capital firms

In this study we analyze how the composition of the top management team (TMT) influences the portfolio strategy choice in venture capital (VC) organizations. We develop a model of risk perception to investigate how education and experience of TMT members impact whether VC organizations invest with a focus on early stage ventures or not, specialize or diversify across industries, and invest with a broad or narrow geographic scope.Evaluation of data on TMTs and portfolio strategies of 136 European VC firms revealed that VC firms with higher proportions of TMT members with science/engineering education and entrepreneurial experience more likely invest with an early stage focus. Furthermore, TMTs with more management education diversify their portfolios more across industries. Finally, the more international experience TMT members of VC organizations have, the broader the geographic scope of investees. We discuss the implications of our findings for the VC literature.     

The influence of political risk on the scope of internationalization of regulated companies: Insights from a Spanish sample

Political risk not only constitutes a threat for multinational enterprises but can also be a source of opportunities. Exposure to and accumulated experience dealing with political risk allows firms to better implement a wide set of political actions such as negotiation of entry conditions, lobbying, litigation, campaign contributions and coalition formation, leading to preferential conditions, reduced environmental uncertainty, reduced transaction costs and increased long-term sustainability to the firm. These advantages facilitate investments in countries with higher and more diverse levels of risk and make political risk to be positively associated with the firm's scope of internationalization. This effect is not homogeneous across firms. Drawing from a sample of 164 Spanish companies with investments in 119 countries, we find that the impact is greater for companies in industrial sectors that are the object of greater governmental regulation than it is for firms in non-regulated manufacturing or service sectors, with less frequent interactions with home and host-country institutions.     

基于用户体验的农村旅游厕所管理研究——以广东省为例

农村旅游厕所是我国厕所革命的短板,存在重建设轻管理等问题,下一阶段厕所工作重点在于如何"管好"、"用好"上。基于用户体验逻辑的实证研究有助于为农村旅游厕所提升公共服务质量和运营管理水平提供参考借鉴。本文运用权重综合评价方法,构建了用户体验评价指标体系,选取广东省农村旅游厕所206座进行实地评测,结合大众用户对农村旅游厕所的体验偏好调查,利用IPA方法分析农村旅游厕所用户体验评价指标的重要程度和实际表现感知,提出丰富用户体验、加强卫生保洁、创新经营模式等政策建议。     

转变城市发展方式之低碳城市建设——基于德国经验借鉴

首先从产业能源体系、低碳交通网络及生态环境三方面梳理德国低碳城市建设实践,然后总结德国在低碳意识培养、战略目标制定、政策体系建设等方面值得借鉴的经验,最后从“公平-效率-质量”视角为我国低碳城市建设提出建设路径:加快创新驱动,提高建设效率;提供制度支持,注重建设公平;强调以人为本,提升建设质量。     

劳动投资效率、企业性质与资产收益率

基于中国信用债券市场的近期违约事件,本文研究发现:涉事评级机构不仅没有因为涉及债券违约事件而收紧信用评级标准,反而更加高估企业的信用评级水平,并且涉及的债券违约事件越多,高估信用评级的程度越大。但投资者通过“用脚投票”方式惩罚了涉事评级机构,导致其市场份额相对于非涉事评级机构出现显著下降或者增长较低的态势,同时涉事评级机构的信用评级意见对于降低企业融资成本的作用显著降低。